Impressive Growth in Cyprus Tourism Revenue: €223.3m in Q1 2024, Surging 11.7% YoY

Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said.

Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%.

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The average expenditure per person was €558.88 in March 2024 compared to €530.72 in March 2023 (up 5.3%).

Tourists from the United Kingdom, again Cyprus’ largest tourist market with 31.8% of the total in March, spent on average €73.49 per day, while tourists from Poland, the second largest market with 10.4% of total tourists, spent on average €75.86.

Tourists from Germany, the third largest market with 9.8%, spent on average €98.66 per day, while tourists from Greece with 9% of the market, spent on average €43.37 per day.

Finally, tourists from Israel, the fifth place on the market with 8.2%, spent on average €143.21 per day.

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Lovable Moves To Acquire Startups As AI Competition Intensifies

by THEFUTURE.TEAM

March 24, 2026

Lovable, an AI-powered app-building platform valued at $6.6 billion, is expanding through acquisitions as it scales its product and team. The company is looking to integrate startups and teams into its ecosystem, focusing on areas that support product development and growth.

Founder-Driven Culture Fuels Innovation

In a recent statement on X, Lovable co-founder and CEO Anton Osika emphasized that many key team members joined the company straight from their own startups. “Many of the people in key roles at Lovable were founders right before joining us,” he stated, highlighting a culture designed to empower founder-types with autonomy and the freedom to drive initiatives.

Capturing Opportunities For Growth

Osika noted that the acquisition strategy is aimed at giving smaller teams and early-stage startups the opportunity to scale their products within a larger platform. The company is actively engaging with potential partners and exploring ways to integrate new projects into its structure.

Competitive Dynamics In The AI Landscape

Lovable is expanding at a time of growing competition in AI development tools. Platforms such as Cursor, Replit and Bolt, along with larger AI companies, are increasing pressure across the market, pushing companies to move faster on both product and expansion.

Robust Growth Underlines Strategic Focus

Despite fierce competition, Lovable is experiencing notable revenue growth. The company recently reported an increase in its annual recurring revenue (ARR) to $400 million from $200 million at the close of 2025, alongside the emergence of over 200,000 new vibe-coding projects daily. This impressive growth trajectory validates Lovable’s strategic investment in talent and technology.

Proven Track Record In M&A

Lovable has demonstrated its commitment to strategic acquisitions by previously integrating key assets, such as the acquisition of cloud provider Molnett in November to bolster its cloud infrastructure capabilities. This history underscores the company’s proactive approach in enhancing its technological and operational reach.

Looking Ahead

Lovable is expected to continue exploring acquisitions as it expands in the AI development space. The company remains focused on bringing in teams and startups that can strengthen its product and support further growth.

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